Common use of Variations to the Principal Agreement Clause in Contracts

Variations to the Principal Agreement. 5.1 In consideration of the agreement of the Bank contained in Clause 3.1, the Borrower and the Corporate Guarantor hereby jointly and severally agree with the Bank that (subject to the satisfaction of the conditions precedent contained in Clause 4) with effect from the Effective Date, the provisions of the Principal Agreement shall be varied and/or amended and/or supplemented as follows: a. with effect from the Effective Date the definitions “Flag State” and “Vessel” of Clause 1.2 of the Principal Agreement shall be deleted and replaced by the following:

Variations to the Principal Agreement. 5.1 In consideration of the agreement of the Bank contained in Clause 3.1, the Borrower Borrower, the Approved Manager and the New Corporate Guarantor hereby jointly and severally agree with the Bank that (subject to the satisfaction of the conditions precedent contained in Clause 4) with effect from the Effective Date, the provisions of the Principal Agreement shall be varied and/or amended and/or supplemented as follows: a. with effect from the Effective Date the The definitions “Flag State” and “Vessel” of Clause 1.2 of the Principal Agreement referred to hereinbelow shall be deleted and replaced by the following: i. ““Corporate Guarantor” by:

Variations to the Principal Agreement. 5.1 In consideration of the agreement of the Bank contained in Clause 3.1, the Borrower and the Corporate Guarantor hereby jointly and severally agree with the Bank that (subject to the satisfaction of the conditions precedent contained in Clause 4) with effect from the Effective Date, the provisions of the Principal Agreement shall be varied and/or amended and/or supplemented as follows: a. with effect from the Effective Date the definitions definition “Flag StateOperating Expenses” and “Vessel” of in Clause 1.2 of the Principal Agreement shall be deleted and replaced by the followingamended to read as follows:

Variations to the Principal Agreement. 5.1 In consideration of the agreement of the Bank contained in Clause 3.1, the Borrower and the New Corporate Guarantor hereby jointly and severally agree with the Bank that (subject to the satisfaction of the conditions precedent contained in Clause 4) with effect from the Effective Date, the provisions of the Principal Agreement shall be varied and/or amended and/or supplemented as follows: a. with effect from the Effective Date the definitions “Flag State” and “Vessel” of Clause 1.2 of the Principal Agreement referred to hereinbelow shall be deleted and replaced by the following: i. ““Corporate Guarantor” by:

Variations to the Principal Agreement. 5.1 In consideration of the agreement of the Bank contained in Clause 3.1, the Borrower Borrower, the Approved Manager and the Corporate Guarantor hereby jointly and severally agree with the Bank that (subject to the satisfaction of the conditions precedent contained in Clause 4) with effect from the Effective Date, the provisions of the Principal Agreement shall be varied and/or amended and/or supplemented as follows: a. with effect from the Effective Date the definitions “Flag State” and “Vessel” of Clause 1.2 of the Principal Agreement referred to herein below shall be deleted and replaced by the following:

Variations to the Principal Agreement. 5.1 In consideration of the agreement of the Bank contained in Clause 3.1, the Borrower and the Corporate Guarantor hereby jointly and severally agree with the Bank that (subject to the satisfaction of the conditions precedent contained in Clause 4) with effect from the Effective Date, the provisions of the Principal Agreement shall be varied and/or amended and/or supplemented as follows: a. with effect from the Effective Date the definitions “Flag State” and “Vessel” The definition of Clause 1.2 of the Principal Agreement referred to hereinbelow shall be deleted and replaced by the following: i. ““Final Maturity Date” by:

Variations to the Principal Agreement. 5.1 In consideration of the agreement of the Bank contained in Clause 3.1, the Borrower and the Corporate Guarantor hereby jointly and severally agree with the Bank that (subject to the satisfaction of the conditions precedent contained in Clause 4) with effect from the Effective Date, the provisions of the Principal Agreement shall be varied and/or amended and/or supplemented as follows: a. with effect from the Effective Date the definitions “Flag State” and “Vessel” of Clause 1.2 clause 8.1(a) of the Principal Agreement shall be deleted and replaced by the followingamended to read as follows: